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One Strategist Compared Hedge Funds To Passive Index Funds: “The Results Were Breathtaking”
Earlier today, we brought you some highly amusing excerpts from a recent BofAML note.
You'll recall the following main points:
Shorts squeezed by “Trump Rally” in Q4 2016. Based on the quarterly 13F filings and estimated short positions of the equity holdings of 958 funds, we estimate that hedge funds short-covered the most stocks during Q4 2016 since the end of 2009.
HF least net short ETF since 2012; record long positions. Hedge funds increased their ETF long notionals by $7.4bn to a
